The Financial Services Council watched with interest the New Zealand Government’s Wellbeing Budget announcements at the end of 2018, providing a new lens on implementing social and environmental wellbeing measures together with economic ones.
Health and finances top the list for many in New Zealand when it comes to setting New Year Resolutions - for some it’s about healthier eating and for others it’s about saving more or lowering debt.
Richard Klipin, CEO of the Financial Services Council, said “Health and wealth go hand in hand, but many New Zealanders tend to set goals in one area or the other, rather than through their own wellbeing lens.”
The FSC has put together five areas of focus to help New Zealanders start their own wellbeing journey:
1. Get active Research by Sports New Zealand shows that as little as 10 minutes of physical activity a day can improve mental wellbeing, and 65% of those surveyed reported an increase in good mental wellbeing when activity increased to 4.5 hours a week.
2. Manage your money Keep an eye on what’s coming in and going out of your bank accounts and save as much as you can, even if it’s just a small amount a week. Invest in your future by paying yourself first through, for example, maximising your KiwiSaver contributions.
3. Set clear and achievable goals What’s on your bucket list? Take an hour or so to plan what the future looks like for you, whether just starting out in a career or planning to retire. It’s never too early or late to set personal and professional goals.
4. Manage your risks Life happens, and sometimes things go wrong. Work out how much you need to pay your monthly bills if you were off work and think about getting peace of mind through insurance.
5. Seek advice Now you’ve got a handle on your health and wealth, seek advice in the areas you aren’t sure about, whether through a specialist adviser or online. With all your new-found knowledge, you’ll will be able to create a balanced set of achievable goals in no time.
Read the media release.